The projects it plans on funding will focus on building 5G solutions, smart manufacturing platforms and cloud computing services. On Monday, Foxconn, the world’s largest contract manufacturer of electronics, stated it plans on using the proceeds of one of its subsidiaries, which got listed in Shanghai, to fund 8 projects totaling to $4 billion (27.3…
Although Chinese military drones look suspiciously similar to U.S. and Israeli ones, drone makers are confident that customers will continue to prefer a reliable strike platform rather than a cheap unreliable ones. A predicted rise in demand for military drones from regions in Asia, the military drone market is gradually leaning towards Chinese drone makers…
Ant’s pre-IPO fundraiser, dependent on investor feedback, is aimed at gaining size as it looks to expand in its home base as well as abroad. As per sources familiar with the move, Ant Financial Services Group, a Chinese online payment firm, is planning on raising up to $5 billion in fresh equity. The move could…
The move marks the latest effort by companies in Japan to fight Amazon.com from gaining a foothold in the island nation. On Friday, Japanese business daily NHK reported, SoftBank Group Corp, Yahoo Japan Corp and Aeon Co Ltd plan on launching an online retail business. The online retail business will sells all kinds of products…
The development is a follow through on Amazon’s $13 billion acquisition of Whole Foods in 2017. On Thursday, Amazon.com Inc stated it would start delivering Whole Foods groceries to Prime Now members in select U.S. cities; the service will soon expand to the rest of the country as well. In a statement, the world’s largest…
McNeill’s ability to nurture and bring a startup to scale will be beneficial for Lyft as it continues to grow and expand in the coming years. Lyft disclosed it has hired Jon McNeill, a former president of global sales and service at Tesla, as its chief operating officer and noted McNeill’s ability and experience of…
Apple’s strategy is aimed at strengthening bonds with local Chinese suppliers and government bodies. Despite facing strong headwinds from China’s business practices, Apple is pushing to make headway with its CEO visiting the country frequently in recent times. With Apple Inc pushing to make headway in China, the world’s second largest economy, it boosted its…
Eyeing booming demand for chips, especially for servers, Samsung has begun investing in a second production facility at Pyeongtaek; it first chip production line at Pyeongtaek began mass production in July 2017. On Wednesday, South Korean news agency Yonhap reported, Samsung Electronics Co has begun investing in a second memory plant at its Pyeongtaek production…
The compelling offer will notch up pressure on Qualcomm to take a tough decision. Adding to that pressure is Qualcomm’s return of investment to shareholders of -7% against a semiconductor index return of 106%. In what could be the biggest acquisition in the tech sector, Broadcom Ltd has put forward a $121 billion “best and…
In the first of its kind Seattle’s election authority has pulled up tech firms, under a 1977 law that requires companies, that sell election advertising, to maintain and make public records showing the names of those who bought the advertisement space, the quantum of the payments as well as the “exact nature and extent of…
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